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Showing posts from February, 2023

How to file Income Tax Return for Income from Business and Profession| ITR 3 filing| JR compliance

  ITR-3 is a form that is relevant for resident individuals and Hindu Undivided Families (HUFs). An income Tax return with an ITR-3 form is carried out when the assessee has a regular income from a profession or a proprietorship business. Accordingly, if a person earns an income through a business or a profession belonging to medicine, architecture, accountancy, etc, you can go ahead with the ITR-3 process! Now that you’re familiar with the crux of the ITR-3 form, let’s dive into the eligibility criteria for the same. Who can apply for ITR-3? Income generated from one or multiple house properties. Income assets dwelled in a country outside India. Income earned from short or long-term capital gains Income from a profession pertaining to medicine, architecture, accountancy, etc Rewards benefited from activities such as horse racing, winning a lottery, etc coming in the category of ‘Income from Other Sources. Last but not least, a business executed under a proprietorship firm, denoting t

How to Register for TDS (Tax Deduction System)

  (TDS) Tax Deductible at Source, it is the quarterly statement that a deductor submits to the Income Tax Department. It indicates the summary of each entry for the TDS collected or paid by the deductor to the Income Tax Authority. For more information, watch:  https://www.youtube.com/watch?v=17bh00lCVXU&t=1s

Know the eligibility of ITR 2 for income with capital gains

Eligible to file ITR-2 1. Individuals and HUFs 2. Income from salary and pension 3. Income exceeding Rs.50 lacs 4. Holding unlisted equity shares 5. Director in a company 6. Capital gain from the sale of assets or property 7. Income from House Property from more than 1 house property 8. Agricultural income exceeds Rs.5000 9. Income from winning lotteries or horse races 10. Owner of foreign asset or Income from a source outside India. 11. Non-resident or resident not ordinarily resident.

FSSAI Registration Process: Central Guidelines | FSSAI License Registration | FSSAI Apply Online

Food Safety and Standards Authority of India (FSSAI ) is a legal authority that provides food licenses/registration to every Food Business Operators (FBO) in India according to Sub section (1) and subsection (2) of Section 31 of the FSS Act, 2006 to regulate the food quality as per the rules and regulations of the FSSAI. Assuredly, every business that engages in the food supply chain is required to procure the license. If they fail to do so, they won’t be allowed to operate in the Indian market. There are many benefits of FSSAI License: Legal Benefit - To obtain legal benefits to prevent you from fine, debarment, or both which a food business has to face if it fails to obtain the FSSAI license. Market Advantage - An FSSAI certificate helps in enhancing the brand value and provides wider access to the market by increasing the goodwill of the product. Thus, it ensures the customers’ safety and is eligible to sell your products at various geographical locations without affecting the dem

NGO Registration in Hindi | NGO kya hota hai | Types of NGOs

  NGO is an acronym for Non-Governmental Organization , which fundamentally works to ameliorate society, typically operated by organizations, groups, non-profit establishments, non-profit individual entrepreneurship, activist, voluntary and altruistic. Registering an NGO is not mandatory. However, it is advisable to register your NGO to obtain all sorts of support. For instance, a recognized or registered NGO can avail financial assistance from the government authorities. An NGO certificate allows you to avail benefits such as abatement and technical support from government departments, organizations, and ministries to get resources, assets, and items. NGO registration permits you to receive funds and support from the foreign. Though, you need to obtain permission for the same under the Foreign Contribution Regulation Act (FCRA) . Provides you benefit of tax rebate for its bank deposited funds and can avail the benefit of donor's Tax exemption. Simply fill the application form from